986 LAWS OF MARYLAND. [CH. 471

The authority hereby conferred upon the Mayor and
City Council of Ocean City to borrow money upon the
credit of the said municipal corporation, and to issue bonds,
is in addition to any similar power and authority hereto-
fore conferred upon the said municipal corporation.

SEC. 4. And be it further enacted, That before selling
the said bonds, the Mayor and City Council of Ocean City
shall give reasonable notice of the sale by advertise-
ment in at least one newspaper published in Worcester
County, Maryland, and such other advertisement as the
Mayor and City Council of Ocean City shall believe reason-
able and proper, specifying the time, place, manner and
terms of sale, and amount of bonds to be sold, and inviting
sealed proposals for the purchase of all of the said bonds
to be sold.

The Mayor and City Council of Ocean City shall have
the right to reject any and all proposals or bids for the
said bonds, and in that event, shall have full power and
authority to sell the bonds theretofore advertised, either
at public sale after re-advertisement, or at private sale
without re-advertisement, the rights of the purchaser or
purchasers of said bonds, or any of them, shall in no way
or manner, be affected or impaired by the application, mis-
application, appropriation or misappropriation by the
Mayor and City Council of Ocean City, of the money aris-
ing from the sale of any or all of the said bonds.

SEC. 5. And be it further enacted. That for the pur-
pose of redeeming said bonds at maturity, and for secur-
ing the payment of interest thereon, the Mayor and City
Council of Ocean City shall apply any net profits which
may be received from time to time from the operation of
the said electric lighting plant and lighting system (a sep-
arate account of which shall be kept) to the payment of
interest aforesaid and the principal of the bonds issued
under this Act as they mature; and should there be no net
profit received from the operation of said electric lighting
plant and lighting system or should said net profit be in-
sufficient for the payment of interest and principal of said
bonds as aforesaid, then the Mayor and City Council of
Ocean City shall, and it is hereby authorized to, levy and
collect upon the assessable property of the town of Ocean
City such additional sum as shall be necessary to pay the
principal and interest on the said bonds, as the principal
and interest shall become due and payable, and the said
levy and collection of taxes as aforesaid, shall be made at